Bhutani Group Acquires Stake in WTC Noida to Complete Stalled Projects

The Bhutani Group, a prominent real estate developer based in Noida, has recently acquired a majority stake in WTC Noida. This company is licensed to develop 13 World Trade Centers (WTC) across India. The acquisition is part of a strategic revenue-sharing agreement aimed at completing several stalled projects under the WTC banner. This move is expected to infuse much-needed capital and expertise to ensure the timely completion of these high-profile developments.

Currently, there are five World Trade Center projects at various stages of construction in key locations such as Noida, Chandigarh, Gurugram, and Gift City. While parts of these projects have already been delivered and are operational, the previous developers struggled to complete the remaining construction due to a significant lack of funds. The Bhutani Group's involvement is anticipated to revitalize these stalled projects, providing the necessary financial and managerial resources.

The completion of these five WTC projects requires an estimated investment of at least Rs 3,000 crore. With the Bhutani Group’s entry, there is a renewed focus on boosting sales, accelerating construction activities, and enhancing the overall strategic direction of these developments. This financial injection and strategic overhaul are crucial to meeting project deadlines and fulfilling commitments to stakeholders.

The World Trade Centers Association (WTCA), which holds licenses for 40 cities in India, is aggressively expanding its footprint. Although not all licensed cities currently have physical WTC buildings, the association aims to establish 10 more trade centers in India over the next five to seven years. This ambitious plan will bring the total number of WTCs in the country to over 50, reinforcing India’s position in the global trade network.

WTCA has outlined plans for future projects in various cities, including Varanasi, Amritsar, and Lucknow. These projects are in the planning stages, with decisions on commencement to be made in due course. The expansion strategy underscores WTCA’s commitment to leveraging India’s growing economic potential and catering to the increasing demand for world-class trade and business infrastructure.

The Bhutani Group’s acquisition and the subsequent revival of stalled WTC projects reflect a broader trend in the Indian real estate market. Despite global economic uncertainties, the Indian office market continues to exhibit stable growth. This resilience makes it an attractive destination for international associations like the WTCA. The emphasis on occupier satisfaction, job creation, and exploring new geographies highlights the strategic priorities driving these developments.

Beyond the World Trade Center developments, the Bhutani Group has also secured the bid to develop the Film City project for the Uttar Pradesh government. This diversification into entertainment and media infrastructure further illustrates the group’s dynamic approach to real estate development and its capability to handle large-scale, multifaceted projects

The Bhutani Group’s acquisition of a majority stake in WTC Noida is a major step forward in finishing stalled World Trade Center projects across India. With an investment of ₹3,000 crore and a strong plan, these projects are set to be completed on schedule, benefiting stakeholders and boosting local economies.

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